Gensol Engineering shares surge 5% post securing Rs 780 crore solar PV project

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The shares of Gensol Engineering went by nearly 5% to day’s high of Rs 860 on BSE post securing Rs 780 crore solar PV project from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant and is set to be executed over a 15-month period. The scope of the project includes the manufacturing, supply, erection, inspection, installation, testing, and commissioning of a 150 MWac grid-connected ground-mounted solar PV power plant, along with the development of the associated power evacuation infrastructure to the STU substation. Additionally, the contract includes three years of operation and maintenance (O&M) services for the project, inclusive of maintenance of the plant's switchyard and its extensive transmission infrastructure, the company said in a filing.

The project aligns with the forward-looking policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022, aimed at enhancing Maharashtra's energy infrastructure while making a significant contribution to India's sustainable energy goals.

The awarding of this contract to Gensol highlights the company’s growing expertise and proven track record of delivering renewable energy projects on time, according to the filing with the exchange.
"We are deeply grateful for the trust placed in us by one of India’s leading public sector utilities. This significant project is a testament to Gensol’s growing expertise as a provider of comprehensive, end-to-end solar solutions. It will play a vital role in advancing India’s clean energy transition, aligning with our firm commitment to contributing to the right energy mix. We look forward to further collaborating with the state of Maharashtra to support and enhance India’s renewable energy goals,” said Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering.
In the last three and five years, the shares of Gensol Engineering went up by 3,339% and 3,898% respectively. In the last two years, the shares have surged by 74%.
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